MyGovID Setup Instructions

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MyGovID Setup Instructions

Daniel Foelz • April 15, 2020

Details on how to set up your MyGovID (To apply for JobKeeper on the ATO Business Portal)

MyGovID is your digital identity which makes it easier to prove who you are online - it's like the 100 point ID check but on your smart device. It has replaced the AusKey and allows you to access ATO data online as well as other online government services. Please note that your myGovID is different to myGov. MyGovID lets you prove who you are when using government online services whereas myGov lets you select and link to government online services.

What you will need:

1. A smart device with; IOS 10 or later or Android 7.0 or later
2. An email address – it should NOT be a shared work address like ‘admin@...’
3. To be 15 years or older

Step 1 - Set up MyGovID

This is where you create your myGovID Profile (Please be aware that this is a different profile entirely to your myGov account and is NOT associated in any regard). So you may have myGov access but not a myGovID.

a. To set up myGovID you need to download the myGovID app on your smart phone (Available on iOS and Android OS) the app is a green thumbprint with myGovID on it.

b. Once in the app, you will be prompted to set up your profile. Please follow the on screen instructions at this point. You will need to enter your full name (Per ATO Records), DOB and email address (Can be a work email or a private email). At this point your identity strength will show ad Basic.

c. You then need to fill out the section that asks for 2 forms of government issued identity documents – this can include License, Medicare, Birth Certificate or Passport.

d. Once you have all this entered your app should show that you then have Standard identity strength – you need this to be able to access any business on the portal.

Step 2 – Linking Primary Contact

(For clients trading in a Trust with Corporate Trustees only – Sole Traders, Companies and Individuals as Trustees please skip to step 3)

To get your Trust with a Corporate Trustee linked to your MyGovID account you first have to register yourself as a primary contact on each entity with the ATO’s Relationships Authorization Manager (RAM) Team. To do so you will need to contact the RAM team directly on 1300 287 539 and then select Option 3 when prompted. You will then need to advise the operator that you wish to link yourself as the primary contact to your Trust’s that have a corporate trustee. They should then be able to process this for you. So you need to advise that you require “Your Company Pty Ltd as Trustee for The Your Trust” linked to yourself.

Step 3 - Set up Relationships Authorisation Manager (RAM)

a. This is where you link each entity to your MyGovID
b. You will need to go to authorisationmanager.gov.au and login with the account that you just set up
c. You then will need to click on ‘Link your Business’ type in your address and click continue.
d. A list of your entities should come up allowing you to then select all and attach them to yourself.
e. This is then done and you should be able to login into the business portal using MyGovID then and see all entities.

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ASIC Annual Company Requirements

By Daniel Foelz • March 4, 2025

Every company registered in Australia must meet annual compliance obligations set by the Australian Securities and Investments Commission (ASIC). One of the key requirements is the annual statement, which ASIC issues to companies shortly after their annual review date - typically the anniversary of their registration. What is an ASIC Annual Statement? Shortly after a company’s annual review date, ASIC sends out an annual statement. This document includes: • Company’s Current Details: A summary of the company’s information as recorded by ASIC. • Annual Review Fee Invoice : An invoice detailing the fee required to maintain the company’s registration. • Corporate Key: A unique identifier that allows secure access to ASIC’s online services for updating company information. Companies must carefully review this document to ensure their information is correct and take action to maintain their registration. Annual Obligations for Companies To remain compliant and avoid penalties, companies must complete the following steps each year: 1. Pay the Annual Review Fee ASIC requires companies to pay a yearly fee to maintain their registration. The amount varies depending on the type of company (e.g. Private Company or SMSF Trustee Company). Payments must be made by the due date to avoid late fees and possible deregistration. These fees are included within our invoice issued to you. 2. Verify and Update Company Details Companies should check their annual statement to confirm that all details - such as registered office address, directors, and shareholders are accurate. If any changes are needed, they must be updated with ASIC by contacting our office. 3. Pass a Solvency Resolution Within two months of the annual review date, company directors are required to pass a solvency resolution. This resolution confirms that the directors have reasonable grounds to believe the company can pay its debts as they become due. While the resolution doesn’t need to be lodged with ASIC, it must be documented and kept with the company’s records. Consequences of Non-Compliance Failing to meet ASIC’s annual requirements can result in penalties, late fees, and even company deregistration. It is crucial for companies to adhere to these obligations to maintain their good standing and ensure uninterrupted operation. What Happens If You Don’t Receive Your Annual Statement? If the annual statement isn’t received within a week of the review date, companies should contact ASIC to avoid compliance issues and potential penalties. Deregistration Considerations If a company is no longer operating, it may apply for voluntary deregistration to avoid ongoing fees and obligations. Contact our office to discuss. Stay Compliant to Avoid Penalties By staying on top of annual reviews and ensuring all obligations are met on time, companies can remain in good standing and avoid unnecessary complications. For comprehensive information on annual statements and company obligations, refer to ASIC official website or contact our office.